In this blog post, we’ll discuss the different marketing strategies a company might employ to reach its target market and drive sales. Sales Strategies Initiatives and Plans for Success, While they may seem like they’re all the rage these days, marketing and sales go hand in hand. When you can effectively market your brand and drive customer demand with limited resources, you stand to gain more customers than if you try to compete on price alone.
A strong sales strategy plan creates the foundation for a cohesive and successful sales organization. Sales strategies and initiatives also align salespeople on shared goals and empower them to do their best work .
A sales strategy is a set of decisions, actions, and goals that inform how your sales team positions the organization and its products to close new customers. It acts as a guide for sales reps to follow, with clear objectives regarding sales processes, product positioning, and competitive analysis.
Let’s take a look at 8 common marketing Sales Strategies Initiatives and Plans for Success:
1. Paid Advertising
Sales Strategies Initiatives and Plans for Success , In this strategy, advertisers typically buy airtime from television stations that are relevant to the audience’s interests. Ads are typically displayed on networks like Fox, CBS, and NBC. These networks operate on a local level and may include Wichita, KS; Bowie, MD; Grand Rapids, MI; Long Beach, CA; Little Rock, AR; and Louisville, KY.
Paid advertising is an online placement of ads on relevant platforms for which an advertiser pays. It works based on a bidding system. This is an auction where an advertiser ready to pay more money for an ad space wins. Advertisers pay either for impressions or for clicks.
Implementing paid advertising doesn’t guarantee success for your business. It requires investments and thorough planning while organic promotion only requires time. So, the best approach is to combine these strategies effectively.
Ads are usually 30 seconds or less in length and are used to promote a specific product or service. Most commercial airtime is owned and operated by the major broadcast networks. The only advertising you may see on cable channels is during original programming. Many cable channels also carry local programming during certain hours of the day.
To buy airtime on a network, you’ll need to purchase commercial time from the station that runs the network. Advertisers who purchase commercial time are known as “anchor advertisers” and can often be heard talking about how they want their ads to appear during the program.
2. Sponsored Content
In this type of marketing, Sales Strategies Initiatives and Plans for Success brands pay content writers and photographers to create and publish articles and images about their products and services. Since these are paid pieces, it stands to reason that the articles and photos will be highly targeted to the readers’ interests.
Sponsored content has been around for decades and got its start in print publications. But as online marketing has taken over the way we consume content, we’ve seen sponsorships move from print to web. Now, sponsored content is even thriving on social platform like Instagram.
Some of the most common sponsored content topics include health, fitness, and parenting. Brands may also pay for blog posts, videos, and images that are tailored to specific topics and audiences.
3. Offers
Offer programs are used to make specialized offers to targeted audiences. You may have heard of these programs through the term “free samples” or “buy one get one free.” These types of offers are usually only available during special events or offers. Sales Strategies Initiatives and Plans for Success
A marketing offer is any free product, service, or content given to a website visitor in exchange for them performing a specific action, like filling out a form. Tapping into what your audience deems valuable enough to share their information for will require a bit of planning to ensure they are effective.
Typically, these types of offers are only available for a limited time and may include free gift items, free swag, or free product samples.
4. data-driven marketing
Data-driven marketing, also known as predictive marketing, is based on how well your products or services are predicted to perform in different marketplaces and geographies. Sales Strategies Initiatives and Plans for Success , This is why brands like Target and Google are able to offer “free stuff” and “free events,” respectively, to qualifying customers.
Data-driven marketing is the approach of optimizing brand communications based on customer information. Data-driven marketers use customer data to predict their needs, desires and future behaviors. Such insight helps develop personalized marketing strategies for the highest possible return on investment (ROI).
Typically, data-driven marketing is what gets brands like Google, Apple, and Facebook in the habit of displaying ads to your visitors. It’s also what lets social media networks know who you are and what you like to see.
5. Community Marketing
Many brands are now turning to community-based marketing to drive additional business. Sales Strategies Initiatives and Plans for Success, In this type of marketing, you buy ad time on local radio stations in your community and create a community-wide event. Your event may include cooking demos and classes, a happy hour, a door prize draw, and more.
Unlike traditional advertising that is solely focused on getting new customers, a community marketing strategy is more about connecting and engaging with people to build long-term relationships. It’s about conversation and the power of making your customers or potential customers feel recognized, heard, and important.
6. Welcome Mat Campaigns
Welcome mat campaigns are often used to welcome new customers and serve as an educational tool for existing customers. Sales Strategies Initiatives and Plans for Success, These campaigns typically last between six and twelve months and are based on sharing your brand’s positive message in an easy-to-understand way.
A welcome mat marketing campaign is a focused MULTI-STEP, NEW CUSTOMER campaign designed with specific goals in mind. It should consist of both online and offline communications for maximum results. I estimate that 95% of store owners don’t even think about welcome mat marketing. That’s a mistake since it confers a HUGE competitive advantage.
7. Video Marketing
Video marketing is used to promote a variety of brands and products through engaging and informative videos. Sales Strategies Initiatives and Plans for Success, These ads may be short (under two minutes) or feature a voiceover and be used on platforms like YouTube and Instagram.
Video marketing strategies are nothing new. Just like you wouldn’t create a commercial and buy airtime during the Super Bowl without researching and strategizing, you shouldn’t create a digital marketing video without first doing the proper research and creating a plan.
8. Online & B2B Marketing Strategies
Online and B2B marketing strategies are the most common types of marketing in business to achieve sales. Sales Strategies Initiatives and Plans for Success, In this type of marketing, you create microsites that are tailored to the needs of your target audience. These sites may include product content, videos, and blog posts.
Effective marketing is difficult to get right. Between creative demands, budget limits, and channel decisions, marketers have a lot to juggle when developing their marketing strategy.B2B (business-to-business) marketing refers to any marketing strategy or content that is geared towards a business or organization. Companies that sell products or services to other businesses or organizations (vs. consumers) typically use B2B marketing strategies.
Conclusion
Marketing strategies are a business’s attempt to reach out and touch the lives of its customers in a meaningful way. Sales Strategies Initiatives and Plans for Success, By understanding which strategies work best with a company’s business model, it’s easier to adopt a more effective marketing approach.
